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to start all over. >> eva rowe's parents were among the 15 who died that day in texas city. it was the worst workplace accident in this country in 16 years. >> these things do not have to happen. they are preventable. they're predictable, and people do not have to die because they're earning a living. >> welcome to 60 minutes on cnbc. i'm leslie stahl. oil is the engine that drives our economy. and as oil becomes scarcer, the push to discover and develop new sources becomes increasingly dangerous. this edition examines two recent disasters in the oil industry with a great deal in common: the deepwater horizon rig in the gulf of mexico and the refinery at texas city, which suffered explosions five years apart. they were both operated by bp. and in both cases, 60 minutes looked at whether bp's cost saving measures may have had deadly consequences. first we'll look at the biggest off shore oil spill in history, the blowout of the deepwater horizon drilling rig in 2010. critical revelations in the disaster have come from one of the last crewmen to escape the rig, mike williams,
, 1666. okay. . and global news, average home prices in china's 100 biggest cities was 1% in january from december. and it marks the eighth consecutive marketing rise. two other surveys show growth was weak and the economists caution the country could set a tradeback if trade or government weaken. >> we're here for a lot of reasons, but one thing we need to talk about for an advertising, guys, is there anything better to tuz on than the super bowl? >> no. and it's gotten more important. ite become the academy awards of advertising. first of all, viewership is up. about 111 million people will watch it. crisis is up more than 7%. >> more people watch the laugh time or the gain 12347. >> yes. >> i always thought that was when everybody went to the bathroom. >>. >> you go to the kitchen, you get a drink, you do all sorts of things during halftime. >> $3.75 million for a 30-second spot. people have paid over $4 million. price of ads is up 60% over the last decade. they're also sold out almost a half a billion dollars of ads spend for this super bowl. there will be about 78 advertisers. and i
professional life. he'll also talk a little bit of time at citi. that's been controversial, as you guys have pointed out. the question to a lot of lawmakers is, what exactly did jack lew while he worked at citi for the money he collected. he'll describe himself as a changed agent inside citi. he doesn't mention at all in the prepared remarks anything about this fund that he invested in, that was based in the cayman islands. that's likely to be controversial. we're likely to hear several questions about that one. david, the prepared testimony is one thing, but when then get to the q&a, they'll bear down on what jack lew has to say. carl. >> eamon, there's some discussion how his grilling might be a little bit light, only because republicans haven't really coalesced around a whole lot of opposition. >> yeah, i think the consensus is, they might bang him up a little bit in the hearing. but the expectation is he'll get through and the president will get his man. jack lew has been scrutinized in the past for a variety of jobs. he's a well-known figure here in washington. a lot of republicans don'
a big move. >> lastly, citi goes buy to hold bhp. >> people ask me what i'm worried become it is the endless pressure in the my earth and the materials. free port yesterday, 32. bhp, looks like -- these are rolling ever. the junior gold minors are horrendous. joint global up yesterday on rumors. why are these going down so hard? >> you think god is overdone? >> i like gold az as an allocation, a currency. these miners, they are the weakest, they are terrible. terrible stocks. ran gold, a well run company. >> going back to late 11. >> the euro, by the way, looks -- versus the dollar, the euro really come down. something to watch with the metals, rio tinto a fine company, bhp a fine company. rolling over that is worrisome. i don't think they are done rolling over. >>> home builders falling sharply last few days. an analyst says there is another sector you can play to make money off of housing, the opening bell on a thursday is just minutes away. recognize me. but i am your market data. i know what you're looking for. i'm not chained to your desk anymore. i'm faster and smarte
, and that in other countries, cyber attacks have plunged entire cities into darkness. >> president obama didn't say which country had been plunged into darkness by computer hackers, but we found out. it was brazil. we also found out that hackers have been infiltrating everything from our defense networks to the financial systems. bank robbers are now stealing more money with computers than they are with guns. >> this map is showing a visual representation of where all of the known infections of conficker are across the world. >> computer analysts say it's like a sleeper cell, and it may be poised to suck sensitive data out of millions and millions of computers. >> it takes time to read the manuals. i'm gonna save you that time. 'cause i stay home on saturday nights and read them for you. >> you and the rest of the geeks? >> there's millions of us out there. >> everybody, let's hear it! geek squad! [cheering] >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we take a look at technology. we examine how breaches in digital security threaten everything from weapons systems to bank ac
prices in seven major chinese cities row rose an average tr a year earlier. that's much higher than expected and it's the first time prices rose across the board after ten straight months of decline. >> the layest property data comes at a time when they might tighten policy. home prices across china gained on month .on year continuing the defy government efforts to cool this market. beijing has led a crackdown on home prices for the last three years. but chinese real estate has been showing signs of a revival since the middle of last year. investors struggled to digest the data. it seemed like they were trying to figure out whether the data had hit a sweet spot. was it a big enough contain or was et small enough to pass under bay ying's radar, yet still confirm signs of a recovery? in any case, the property market is essential to china's overall economic recovery making up more than 10% of gdp. it's a sector that investors and we will continue to monitor closely. back to you guys. >> and on that note, we are learning from hong kong the government has unveiled fresh measurer to cool
threatening situation. already, national weather service posted blizzard warnings from new york city to hartford, boston, up to portland, maine. this is going to be a big storm. it is starting off as two storms. one to the north, one to the south here. they're going to come together, one with the cold air, one with a lot of moisture and develop, really get cranking during the day, into the evening on friday, this is how it plays out. not quite together yet and then in the evening, things are really going to go downhill. heavy snow, this does include new york city, 95 to boston. the storm now as one overnight friday into saturday. and it's still going to be hanging in there saturday evening for parts of new england. when it's all said and done, so than two feet of snow. and it's possible new york city and long island, foot, maria, maybe a foot and a half. >> all right, chris. thank you so much. we have to gear up for that. appreciate that. my thoughts on a potential trouble spot for the markets. that's next in observation. stay with us. with fidelity's new options platform, we've comp
some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> it is time for final trade time. pete, kick us off. >> bank of america ready to break out and get towards 13. >> mtw, construction trade, i ththe going to continue to move. >> steve weiss. >> qualcomm, running a sale, time to get it if you don't own it. >> that does it for us live goldman tech conference in san francisco. "power lunch" starts now. >> hello. welcome to "power lunch." michelle caruso-cabrera. in for sue and tyler. apple ceo tim cook making big headlines. the fight with hedge fund manager david einhorn and cannibalization of the company's product. more on that fallout. >> also mead china factor, las vegas rolling out red carpet for chinese new year tourist, which casino stock stands to win big. >> "sports illustrated" swimsuit edition hits news stands today. i bet you already knew that. supermodel kate upton on the cover for the second year running. she's going to join us live here on "power lunch." we don't want to miss that. >> in the meantime,
's revenue sharing, it is economic development for the areas, the communities and cities where we operate, so it's not just about baseball teams. we continue to do well. >> thank you so much for joining us. a great pleasure having you on. >> likewise. >> linda alvarado, alvarado construction. >>> a sneak peek in the green room, packed this morning. they regularly talk on conference calls with the white house, consulting with the president on issues of vital economic performance. today, they consult with you our viewer on "squawk box." at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. ♪ ♪ ♪ ♪
in boston. many cities are telling residents, don't travel if you don't have to. airlines are now warning the blizzard could cripple travel and hundreds of flights have already been canceled. we're going to check in one on friends at the weather channel. just a couple of minutes for their latest forecast. also in the news, the justice department in multiple states reportedly discussing suing moody's for defrauding investors. any move likely to make a similar rival against standard & poors is testing likely so this likely to be more than two years out. the goal is to get more battle on potentially hazard just flights, so these flights will only happens. now let's head across the country to joe and becky and see what they have coming up this morning. joe, how was your week on the course? >> yeah, i had only one day in the tournament and it was one of those days that i'm used to out here. >> it was beautiful weather. >> it was beautiful weather and i hit a lot of different kinds of shots. when a professional golfer says that, they mean they intentionally hit a a lot of different kinds of sho
city. well, maybe he has a 13 deal right now. i asked the ceo to bring these games back. i don't know if he will. the point is that the stocks and bonds and stuff off ebay, stocks are fascinating now get your kids started on them right now. when you have your kids started on stocks and bonds pick some stocks. they are performing in a good way, given the budget pressures, but if companies maybe your kids are familiar with. guess what they will do over a period of time. so here is the bottom line of my childhood stock market obsession. get them started early and maybe they will play for life. the stock market is a long-term contest and one i think the earlier you get in, okay, the more you can win. let's go to loretta in arizona. >> hi captain cramer a big booyah to you. from phoenix, arizona. >> love phoenix. what's up? >> okay what steps should an investor take when a company they thought was solid with a strong monthly dividend suffers a steep drop in price and a 50% dividend reduction? hold them or fold them? >> a lot of the monthly ones are oil related. freeport a few years back cu
private partnership in the cayman islands. he happened to invest in partnerships when he was at citi, and they happened to be based there. >> in romney's case he set them up down there? >> no, he didn't. i was not making -- i never made the cayman islands argument to you ever. >> oh! about romney? >> i never did. go back and check the tapes. never. >> i don't think he ever did. >> i think -- >> i don't think he did. >> in general, just the whole perception. now al gore's got more money, a lot more money than romney, as you know. you think that's in the cayman islands? >> he's not filthy rich. no, that's somewhere safe, the lea -- the middle east. >> as the ocean washes across the country, it's safe, probably in gold. >>> in the markets, the futures are fight slightly higher. yesterday the dow was up by 47 point. the s&p up by two. as patty dawn points out, the nasdaq has been the big issue. it was actually down yesterday by five points. it has not closed above the 3,200 level that so many had been watching closely. some say in order to see the s&p 500 and the dow break out to new hig
are now powering some of america's biggest cities. siemens. answers. man these guys are slow. reminds me of our network before cdw virtualized it. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client golf. aim for the lake. really? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of pr
with their foams and cameras that showed the bags in question, the tent city in question. people who had a room with an actual window were much happier. we interviewed some of those folks last night. it wasn't as hot or smelly in their room. they were probably on an upper deck, so depending on where you were on the boat, as always. 100 buses were waiting last night to either new orleans or to galveston, which is where the boat originally disembarked from. there's going be about a dozen charter flights today by delta to get everybody home. back to you guys. >> all right, mcc, thank you. we want to hear from you, if not on a cruise ship, where would you rather be stuck? what would a better place to be rather than on a cruise ship? >> how about right here at work? >> right here at work? >> filling in for andrew ross sorkin. >> filling in for andrew ross sorkin. it smells fine in here right now. you showered this morning? i did, too. it's friday. so i did, as well. it's underwear change day, shower day, everything else. >> once a week you shower? >> is that tmi? no, no. when we were out in pebble,
city, that soda. >> this is sort of our valentine's day. i'm not here tomorrow to share it with you. >> i would love to take a swig of this. >> look, look! see that? >> now i know where your true affections lie! >> it's the other woman! it's the other woman! >> what is this? >> butter cup. >> a woman in every port, mel. >> and you ate half this, by the way. half is gone. >> happy valentine's out there. >> to everybody, a day in advance. >> a day early. >> which is the way to do it. >> don't go anywhere. "mad >> i'm jim cramer, welcome to my world. you need to get in the game. stearns are going to go out of business and he's nuts, they're nuts, they know nothing. i always like to say there is a bull market somewhere. "mad money," you can't afford to miss it. hey, i'm cramer. welcome to "mad money," welcome to cramerica. other people want to make friends, i'm trying to save you money. i'm teaching and coaching you. call me at 1-800-743-cnbc. of night i come out here and help you find high-quality companies with stocks that are worth owning, stocks that will reward you by going higher
. >> maybe somebody heard something with regard to a banker, some banker was going that city. putting two and two together. making a good bet. not based on actual knowledge but a bet that a lot of people follow that. they cash in, suddenly there's the huge action in the options. sec's right to look at it. they can put people other oath. people want to testify -- here's what i saw, what i did. the evidence that people are trading ahead of the deal is not evidence that they knew it was going happen. they figured it out. >> let me throw one other piece of news -- >> the -- at the monsanto -- >> i used to track plans. you can't do it anymore. very hard to track plans. >> get out on a moped and follow sir larns wiwrence wildman -- >> i believe that's legal as long as you're not tapping lines. >> it eerie. >> dell, they had earnings. i don't think new england care good the earnings, they --in cared about the earnings, they cared about the buyout. >> i think it's sad and public shareholders take a longer term view is the only reason this company is going private is because michael dell and silve
york city. what does this thing look like you to? >> well, i hate to disagree with you. and i hate to have to defend the president here. but for you to say that president obama came one a bad program, the sequester thing, is one of the few plans he's ever come up with that i like. and any cabinet member that cannot make a cut of 1.25% should immediately step down. he's not capable of managing if he can't make those cuts in a reasonable and rational way. this is the same game we always play. when you have to make a little cut, you claim we have to cut food safety, we have to cut airline security. you absolutely don't. there's enough waste and bloating you could make reasonable cuts. >> this is obama's plan. and this is a good thing. this is like the drones. i like the drones and i like the sequester. but he's disowning the sequester. >> but they let him get away with it. we've got to make this clear. this is obama's plan. he designed it. he created it. >> republicans also back the sequester. they're both responsible for this mess. and it's a mess. and i think what's going to happen,
of the u.s., it is cricket city. 37 in kansas city with clouds. 31 in minneapolis. and back out west we go, rain in seattle. and it, look like partly cloudy skies for much of central and southern california. now, what about travel? what can you expect today as you head out to the airways? at a couple of the airports, you could see some delays. minor delays delays expected in new york. the mix of travels. a mix of rain and is snow in spots lot of cleveland. there you go, guys. let's send it back to you in new york. >> reynolds, we were just talking about sorkin on the best dressed list and you may not be on it, but this is the guy that might replace it. loot him. >> thank you so much. >> you know what? i think he knew he was going to be back on squawk today. it's been a while and you said i'm going to be back on "squawk box." >> got the pocket square going. >> representing. >> and the hair is high .tight today, too, right? when was that done, yesterday? >> high and tight. my dad, god rest his soul, was a high and tight man. >> do you miss us on the days on -- >> every day. a day without "sq
large cities were lined with gaming establishments called bucket shops, where people could place wagers on whether the price of stocks would go up or down without actually buying them. this unfettered speculation contributed to the panic and stock market crash of 1907, and state laws all over the country were enacted to ban them. >> big headlines, huge type. this is the front page of the new york times. >> "no bucket shops for new law to hit." >> so they'd already closed up, 'cause the law was coming. here's a picture of one of them. and they were like parlors. see? >> betting parlors. >> betting parlors, yeah. >> it was a felony. well, it was a felony when a law came into effect, because it had brought down the market in 1907. and they said, "we're not gonna let this happen again." and then 100 years later in 2000, we rolled them all back. >> a bill to reauthorize and amend the commodity exchange act to promote... >> the vehicle for doing this was an obscure but critical piece of federal legislation called the commodity futures modernization act of 2000. and the bill was a big favorite
digging out for you. hamden, connecticut, 40 inches. in portland, the biggest snow in city history, 32 inches of snow falling in portland, maine. we have a messy commute for you, more freezing snow, more rain rolling in. for new york, it will be all rain for you. put it on top of the foot of snow that you had, it's a crummy morning. light snow rolling in towards boston and freezing rain, temperatures at 26 degrees. 3 below in bangor. in the capital district about 32. in new york, temperatures close to 42 degrees this morning. a little bit more snow to go, mostly through northern new england, as much as half a foot. and in watertown. but now, in addition to that, the staff has gotten very, very active. yesterday evening, a tornado touching down in hattiesberg, mississippi. many people injured, hitting southern mississippi campus here. more storms firing up this morning, not ruling out tornados. more storms in pensacola, florida, including val ves ton and houston. low chance of tornado, but a high threat for flooding. guys, no matter how you slice it, north or south, some very unwelcome
of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> happy monday. welcome back to "squawk on the street." we'll begin with tech. jim short sounding the alarm of the apple bulls who screamed buy before the stock went down. we'll find out how many analysts failed to see that. >>> pope benedict will resign at the end of the month citing health concerns. what does it mean for the vatican and who could be next. >>> google shares down after hitting an all-time high last week, surging over 10% since the beginning of the year. are the charts pointing to more of a pullback ahead. >>> first, a lot of news out on tech this morning. certainly over the weekend we found google executive chairman eric schmidt is selling roughly 42% of his stake in google, in a move that could net him more than $2.5 billion. jon fortt has more from san jose. he joins us live. is it a surprise that schmidt should be such a heavy seller now? >> maybe a little bit of a surprise. not as big as the pope saying he's on his way out. but schmidt owns about 7.6 million sh
cities. siemens. answers. >>> welcome back to a news packed "squawk on the street." road map for the next hour, m and a hitting the street, berkshire and 3g buying heinz for $20 million including debt. we'll ask a long time berkshire shareholder how he feels about the deal. >> comments on the merger in the skies between us airways and american airlines. it is a cnbc exclusive. >> ceo of zillow joins us, shares surging 20% after record fourth quarter earnings. his initial reaction live in just a few moments. first back to the huge news of the day. warren buffett's berkshire hathaway and 3g buying heinz. bring in the man who broke the story. andrew sorkin. thanks. walk us through the history of this deal. >> this deal -- thank you, carl. the deal came about starting in december when actually the folks at 3g reached out to warren buffett. we do have warren buffett describing the transaction. it is for $72.50. the premium, 20%. should note 20% off its highs. that is something not though sneeze at. take a listen to what warren buffett had to say about the transaction. >> we're putting up more
. the cold is what's moving in here. dangerous windchills, 15 the below sfee row in the twin citys, 1 is in chicago and 13 in indianapolis. lots of layers for all the kids who are going back to school today. then we catch our next storm, this little pin wheel around the oregon coast. this will dive down around california today and is be a pretty big snowmaker. coast to coast, 6 to 12 inches in the snowfall mountains. plenty of snow here around the wasatch. these amounts in the appalachians, on the order of 1 to 3 inches today 37 back to you guys. >> beck can he can't believe what she just heard about that cold weather. eric, they're melg me, you didn't know it was 25 degrees. >> it's warmed up in minneapolis since earlier today. >> such balmy weather. >> it's like, i've known this, right? >> we're here to educate. >> eric, i rely on the weather channel. tell us something, andrew -- >> he did. he just told me it's 2:22 in nairobi. >> you need singapore time? >> you know what else? the clock when you put them all in, andrew, am i right? if it's nice, the clocks are dark. if it's daytime
put. >>> back over here, citi's chairman is not seeking a break-up of the bank. a story in today's wall street journal says michael o'neill was among those encouraging investors not to break up the bank. he is backing abroad cost cutting plans, but exploring a break-up is no longer said to be among his top priorities. >>> and top equity firm sports ing represents tennis players and lots of people including super model giselle bundchen. back in the day owned roger federer. the decision to sell has been driven by the trustee who own tess state of the former ceo and chairman. peemp say it could fetch mother than $2 billion, but there's a huge fight going on among the banks out there to represent this yield and so many of them thought they had the end because they had been with teddy for so long. they were friends with teddy, the trustee who runs this process. only knew teddy for the last two years of his life. so there are banks and bankers who said i've been blanking with him for 20 years. he was my best friend. i promised i would get the deal. but everybody is there and now there'
.75%. declines on the part of bank of america and citi, down more than 1% apiece. technology, it follows the theme all throughout 2013 so far, technology is slightly lower. although we do have apple trading higher today. the fact that apple of late seems to be bucking the trend of the markets. whenever that trend happens to be. today is a downtrend, apple trading higher. certainly for the year, it has been that the markets rallied without apple. in spite of apple we should note. it is still the second largest company by market capitalization on the s&p. >> they're very close, exxon and apple. and we have to mention facebook. i mention facebook because the shares are down over 3%. adding to losses that have started to add up percentagewise for this company, after reported what were not great earnings. at least when you look at mobile and the growth there. again, that according to some who follow the company closely, who were not as perhaps enthused as they otherwise might have been. >> within the realm of this sort of large cap, technology leaders, google getting a downgrade today. google
in this regard, i'm moving from one of the least expensive capital cities in the world, ottawa, to one of the more expensive, shall we say, capital cities in the world, london. >> would you have done the job for less? >> i was offered these terms and i accepted them. >> do you see there might be any resentment amongst staff at the level of your pay package? i'm not aware of any. >> you don't anticipate that in any way? >> i don't anticipate -- if i may say in terms of the pay package, the pay package is, if i may, properly viewed as pay pension and -- >> mark carney continuing to talk about the logistics of it as taking on the role of the head of the bank of england. we can already tell you from statements that are on the wire that he's talking a lot about the exit strategy. he's saying there are limits, you know, to changing the policy framework that the blank of england might pursue. let's bring tom vosa back in here. tom, i have to say there's a generally hawkish tenor to what we're seeing so far. we've seen the spike in the pound as a result of this. what do you make of that? >> we
city, in is a tricky forecast for you. you're right on the line. we know it's going to snow. the question is, how much is it going to snow. we've got you in the 6 to 12 inch range right now. that would be the biggest storm of the year so far. northern new jersey, some big snow totals and in lesser amounts if you move south and west. don't think you're going to have to go very far to get into the north or east to get into the bigger snow totals. poughkeepsie, eastern long island, things will be significantly worse than we see in the city itself. timing there is late tomorrow and into tomorrow night. you see amounts tapering off as you head farther south and west. the idea here is that a lot of people see a foot of snow. some people say two feet of snow. maybe in a few spots in and around boston we could see three feet of snowfall out of this one. your top five snowstorms, the biggest, presidents' day in 2003. some model res saying we may beat that total in boston. not written in stone, but these are ones that everybody remembers. we stop that, that indeed will be something to
moments. >>> and the mayor of london boris johnson says the city will remain at the heart of europe's financial services industry. >> i think that london and the uk will remain for our lifetimes the economic financial powerhouse of the european union. i don't think that there's going to be any change in that. it's inevitable after the shake up that we've seen in the last few years that there will be downsizing in some of these banks but that doesn't mean that you won't continue to see huge number oefs people employed in financial services in this city. this place, london, has the right time zone, it has the right combination of skill, it has the right language to be the best place on earth in which to raise capital in the global economy. >> and the situation surrounding greece and cypress has taken center stage at the euro group talks. silvia wadhwa call up with olli rehn and asked him just what was decided on cypress. >> we have plenty from cypress on the bond program for cypress could be taken in the course of the much. and the other things to watch to get our partner wes detroit
information on that. plus, the other talking of the morning, why new york city mayor michael bloomberg, he wants to ban styrofoam. no more styrofoam. >> you know what i've seen, the new york city psa is about how you shouldn't drink sugar. there's a guy sitting there drinking 16 packs of sugar a day. >> you say that to a man my age, psa, and it's prostate -- >> the guy is drinking 16 backs of sugar and going, while they're drinking their soda. >> take a look at this. us airways ceo doug parker arriving at the airport in dallas just a few minutes ago. we're expecting an official announcement from amr on the usair merger. that's coming, we think, very, very toon soon. we're going to have that and a lot more when squawk returns. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. >>> welcome back to squawk this morning. t let's take a lo
expect ed melissa le x back to you. >> we are watching gold, it's heading for a six month low. citi making some bearish comments about gold and if it's in the process of peaking new, industries suggest gold could go into hibernation for a long time. meantime, the g-20 finance ministers in moscow also weighing on the metals markets, looking to see how they will deal with currency wars and in term of the pricing of the precious metal. we also saw a lot of hedge fund managers and granted they are a snapshot of where they stood at the end of last quarter, but some notable moves in terms of gold, tsiros, pimco cutting their bets in gold. >> the citi note's interesting. they say if history is repeating itself and you had the bull market in the '70s followed by years in the '80s, we cannot look for gold to exceed 1950 in the next 20 years if it is peaking at the moment. they call it a long cycle metal. it tends to do that for a long time. would disappoint a lot of people who still see inflation as a longer term challenge. >> right and there's a surprising report from the world gold council
happened here. let me give you one example of what citi wrote, for example. shock waves across the market. this is what happens when the worst case comes through. high political uncertainty is negative for investments in italy. so this is quite bad. remember, this is a parliamentary system. so even though someone yesterday got the most votes, they didn't win. that is luigi bersani. berlusconi and grillo got a lot more votes than anyone expected. that's what led to gridlock and so no one is in control. silvio berlusconi, sounding exhausted, called into one of his networks this morning to chat with the news anchors there. first of all, he doesn't think there should be new elections, which is a possibility. when he was asked about interest rates rising in italy, he said, don't worry about interest rates. they are an invention. the markets are a little bit independent and a little bit crazy. and the fact that the spread is widening compared to german interest rates, why do we have to compare ourselves to the germans all the time? we don't have to. he hinted to a coalition with the left. he di
to offer online betting. this bill means that online playing of any game offered by atlantic city's 12 casinos is out there. so bets can't be placed until the state division of gaming enforcement actually sets a start date. casinos say that it could take stockton 12 months to get ready. with all the stories you heard about atlantic city, they could probably use an advantage, some sort of help to get people back in their dorms. >>> we go -- back in their doors. >>> from gambling to beer. class-action lawsuits accusing anheuser-busch of watering down its brands. the suits claim that consumers have been cheated out of the alcohol con stated on levels. this is only 3-2 -- >> some have supposed to have 5%, some are supposed to have 4%. apparently there's some ex-employees who have come forward. >> right. >> suggest that -- >> whistle blowers say they know they were intentionally watering stuff down which is crazy. the beer lovers in the suit are seeking millions in damages for all the alcohol that they missed out on. the lawsuits are based on information again, as andrew said, from former e
. it's really a tale of two cities, right? you've got the market feeling great from the get-go, mutual fund inflows. you feel the market wanted to go higher in january. it carried over a little bit into february. but there's been no follow-through really on the volume. and the other metrics you would look at. a little better on options. so it's interesting. now the question is, do things like sequestration and what's going on in italy right now throw us a few curveballs we don't really need right now. >> or maybe our volume levels are down for good. >> could be. >> people just say that's the wave. >> the investors are certainly turning over their portfolios less than they were. they're moving into higher asset classes now. maybe we have to get used to a new normal on volumes. >> derivatives strong, divide that up pretty good in the yields. that can work for everybody. >> i think the strategy in the merger really is a divide and conquer strategy. stapling on our interest rate complex to their commodity and energy franchise. gives us more time to focus on the nyse assets here. so i'm exc
of america's biggest cities. siemens. answers. >>> italy's mario montanaty is calling on the candidates to appear in a televised debate as he's struggling to gain ground in his first ever campaign. jules is in milan. anybody nibbling at his debate idea, jules? >> well, what we've seen is that he's in fourth place behind berlusconi, behind the comedian becky grillo and wind the man that's most likely to win right now, mr. bersani of the democratic party. but i think the important thing to point out here is there's still a third of voters out there that haven't made a decision, in part because of the scandals we've had in the last few months making it difficult for people to decide. for mario monti's point of view, it can't hurt. berlusconi came out immediately and said he's not willing to face mario monti. he doesn't want questions on his economic policy. but one of the things that gets banded around here is if he's more interesting in addressing his legal issues. you know, my accepts from that is that actually, despite what's going on in the markets, the relative calm appearance right n
of america's biggest cities. siemens. answers. >>> after shedding jobs for more than ten years, our manufactures added about 500,000 jobs over the past three. caterpillar is bringing jobs back from japan. ford is bringing jobs back from plex co-. mexico. and this year apple will start making maces in america again. >> in fact, apple, ford and caterpillar that got a shout out from the president during his state of the union speech last night. no great shakes on stocks during the response of today's question. but the president making gun control one of his biggest priorities in that speech. as expected a very climactic emotional part to the speech. but in fact, the run up to this only increased gun sales and ham top pearson is at the blue ridge arsenal in virginia. hampton? >> simon, the morning after the president's emotional plea at the end of the state of the union message, the headline here is is that the spike in gun sales after the new town tragedy, it is frankly continuing. bottom line, people who already own guns are buying more guns out of concern that some weapons in the fut
from the 787 grounding. >> good morning, carl. four cities in the u.s. in particular are impacted by what's happening with the dreamliner. you see them over here. san jose, san diego, denver and houston. let's walk through and explain what's at stake for each of these cities. san jose had the dreamliner service started at one point. and the flight from san jose to tokyo, the economic impact, it's estimated to be about $214,000 a day to that region. now, that's just an estimate at this point. next when you talk about san diego, japan airlines beginning dreamliner service, or supposed to begin service to narita, and at this point, $750,000 in marketing support, along with reduced landing fees. the reason why? you want that direct flight over tokyo from san diego. denver, colorado, this is a big deal for united airlines. service was supposed to start at the end of march. at this point they say it's still going to happen. but look at the economic impact if this is delayed. it's estimated this service will bring in $132 million to the state of colorado. and then finally, united also pl
, this is mike in the windy city giving you a chicago bears b-b-boo-yah. >> what's up? >> caller: if i short a stock, how long do i have to cover that short? >> forever. forever. that's one of the great things about shorting. stay short for as long as you want. if the stock goes up, they may ask you to put more money up, though, and that's where people get squeezed. okay. you've got to dig deep if you want deep profits. gross margins will guide you in figuring out the direction of a stock. and some things you'll only find on the conference calls. not the headlines. gross margins, that's on the call. stay with cramer. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. how do you keep an older car running like new? you ask a ford customer. when they tell you that you need your oil changed you got to bring it in. if your tires need to be rotated, you have to get that done as well. jackie, tell me why somebo
year's going to bring. mike in illinois. mike? >> caller: cramer, this is mike in the windy city giving you a chicago bears b-b-boo-yah. >> what's up? >> caller: if i short a stock, how long do i have to cover that short? >> forever. forever. that's one of the great things about shorting. stay short for as long as you want. if the stock goes up, they may ask you to put more money up, though, and that's where people get squeezed. okay. you've got to dig deep if you want deep profits.ç gross margins will guide you in figuring out the direction of a stock. and some things you'll only find on the conference calls, not the headlines. gross margins, that's on the call. stay with cramer. >>> you're hearing tonight for the first time not how to figure out what's a better or worse expected earnings report to do a good trade. seems to be a dominant way of thinking. how to put these reports to work for you. select the best stocks and prune those that need to go. talking longer term perspective. we figured out how to compute the growth rate of a company. something that @jimcramer on twitter, i ke
water fountains for the master and the mutt. there are buildings in new york city, chicago, boston that are all catering to pets and people are paying for it. they're paying up to $500 as a down payment and 50 bucks a month in d.c. here. and probably a lot higher in manhattan. i've heard of pawdicures for the dogs. and this chauffeur services. they can provide that. even doggy food trucks. there is no end to it, larry. >> we get our dog groomed every two weeks. >> that's grooming. but does it get the pawdicure. >> sometimes, actually. sometimes. let me show it. can i show it on the air? this is the newest contender. there he is. that's grace. she is a terrier. they have one, actually, in the terrier category at the westminster kennel club. at that point she was only a few months, six months or so old. i'm not going to say how old the guy is on the chair. that's a different subject altogether. but you know what i heard? 100,000 bucks a year to train and groom these dogs. >> it's no surprise whatsoever. when people are spending this kind of money at home if you're talking about a sho
cities. siemens. answers. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ a hairline fracture to the mandible and contusions to the metacarpus. what do you see? um, i see a duck. be more specific. i see the aflac duck. i see the aflac duck out of work and not making any money. i see him moving in with his parents and selling bootleg dvds out of the back of a van. dude, that's your life. remember, aflac will give him cash to help cover his rent, car payments and keep everything as normal as possible. i see lunch. [ monitor beeping ] let's move on. [ male announcer ] find out what a hospital stay could really cost you at aflac.com. could lose tens of thousands of dollars on their 401(k) to hidden fees. thankfully e-trade has low cost investments and no hidden fees. but, you know, if you're still bent on blowing this fat stack o
, give me some loving. apple's not even on the top 50 of citi's new global champions. >> really? >> apple's not even on the list. >> holy cow. >> but the question is, why should it be on the list? >> coach is on the list. >> nine times earnings. coach is on the list? >> should go buy coach. buy a man bag. >> man purse. >> are we saying that on the list, which i have here somewhere, that apple's not one of the best 50? >> best 50 what, though? >> listen, maybe that's the bottom. >> coach, cummins -- >> i like cummins. >> ebay. >> i like ebay. >> speaking of watches, you can get a fossil instead of a swatch. >> listen, man, fossil, i told you yesterday fossil is going to determine whether that apple watch is better than the google glasses. >> google's on the top 50 list. >> i believe that. >> i'm going to 1,001 right now. >> where is brian white? >> right. that almost -- i don't want to say it topped the stock. when you start to get the really far out there price targets on apple, that's when the cracks in the story started to really -- >> look, here's capital oil and gas. one of the best p
, nokia, cincinnati bell, ford motor, jpmorgan and citi. all among the big movers today in terms of volume. with overall volume today also picking up and volume has been, of course, picking this up week with -- with overall volume not looking overall so heavy today but certainly picking up in the last half an hour or so. all-time high, 14,164. we're very close to it right now. meanwhile, since months ago, value investor bob olstein told cnbc that amazon could drop 50% over the next few years. since then the stock has done well moving higher. that hasn't stopped olstein from staying bearish on the stock. in fact, now he's calling amazon a ticking bomb on valuation. he says the wrong price for investors is what they are looking at. surprised short sellers are not piling in on this stock. >> bob joins us now along with cnbc's gary kaminsky who is a bit more positive on amazon, and, bob, we certainly want to get your take on the rally at large as we march towards these new all-time highs. let's go amazon first. people always cite valuation if they are trying to nay say on amazon. what's differ
. this is worth watching. turbo charge engines are here to city and have become incredibly popular. >> sure. thank you so much. >> you bet. >> gold is down, closing now. sharon epperson tracking action at the nymex, gold is the only one in the complex that's lost a little steam today. >> that's what happened here into the close we have seen gold prices drift lower. the only cop pont that is negative. we have seen gold in yen terms that will perform very well not only today but so far this year. it's up about 7%. the real standouts continue to be platinum and palladium. in fact, barclay says after the close, look for platinum to go 1725 to 1735 an ounce. back to you, tyler. >> sharon, thank you very much. how should retirees invest with the dow two points shy of 14,000. three strategies to help you find your next move. first, is the housing recovery for real or is it another bubble get ready to burst? we will have the latest data that may make you pause. be right back. with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and st
small trading companies around the world, some based in cities right here in the united states. >> are you a procurement agent for iran? >> [chortles] no, that's ridiculous. no. >> but of course that's sort of the implication of the case against you. >> i'm nothing to do with iranian government or things like that at all. >> mohammad vaghari, mitch to his friends, an iranian who's lived in the united states for 15 years, is facing up to 85 years in prison. he and his lawyers are preparing for his trial on charges that he conspired to send u.s. technology to iran through a trading company he set up in his basement apartment in philadelphia. you are charged with trying to buy a centrifuge that could be used to make biological weapons, like anthrax. >> i don't know about that. i'm not a biological expert to tell, you know-- >> that's in the affidavit and is part of... >> sure. >> the charges against you? >> yes. that's what they say. >> he says his client for the centrifuge was a science lab at a university in dubai. but he says he never bought it. he only asked for its price. >>
schools and city university of new york and ibm, students will graduate with a high school diploma and an associates degree in computers or engineering. we need to give every american students opportunities like this. and four years ago -- four years ago we started race to the top, the competition that convinced almost every state to develop smarter curriculum and higher standards, all for about 1% of what we spent on education each year. tonight i'm announcing a new challenge to redesign america's high schools so they better equip graduates for the demands of a high-tech economy. and we'll reward schools that develop new partnerships with colleges and employers and create classes that focus on science, technology, engineering, and math. the skills today's employers are looking for to fill the jobs that are there right now and will be there in the future. now even with better high schools, most young people will need some higher education. it's a simple fact. the more education you've got, the more likely you are to have a good job and work your way into the middle class. today's s
in arizona and send that electricity to new york city, i don't think that was ever that realistic. but, what we're talking about is smart grid technology, in that with thousands or millions of sources of electricity all around the country, the i.t. that's going to be necessary to make that all work together is going to be pretty huge. >> david, thank you very much for coming in and explaining all this stuff to us. >> come on back. >> i could go on for aheil. >> we didn't talk about the tax credits and whether or not that's going to lay. >> who would have known that electricity could be interesting. >> thank you. >> thank you. >> when we come back -- >> blackberries every second it's very interesting. >> house majority leader eric cantor and his plan to give the republican party a message makeover. "squawk" will be right back. at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expe
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